If we look at both gross and net farm income there is a very high correlation with Iowa land values, over the years, but during the '70s and '80s the correlation wasn't as strong due to several other factors such as inflation, debt, and the mistaken belief there was only one way to go with land values.

 The similarities between recent land values and other "golden" era's is the rise in net and gross farm income which corresponds directly with land values over time, as well as a belief that this it's different or longer term optimism.

  One thing that is different is the debt load of the the land over the farm sector as a whole compared to previous "golden" era's.